05-12-1987 Meeting - Laserfiche WebLink

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~~ T • ~ ~ • • , ' . ' ~ i t ~ ' i Page 2 With each bond issue we agree to furnish, at our expense, the printed bond forms and to pay all usual and customary expenses inci- dental to the approval of the bonds by the Attorney General, the registration by the Comptroller of Public Accounts and delivery to the purchaser. It is agreed and understood that the undersigned, and any of its associates, shall not have any interest, directly or indirectly, in the sale of any bonds by the Authority, except as agent for the Authority. When bonds are to be sold publicly, and the issue totals $500,000 or more, a printed proppectus shall be prepared and mailed to invest- ment bankers in the United States dealing in municipal securities. This prospectus shall contain, in sufficient detail, terms and con- ditions under which bids will be taken, bid forms, complete financial statement and adequate general information on the Authority. If less than $500,000 of bonds are to be offered for sale, this same infor- mation shall be prepared in xerographic form, or some similar method, and submitted to propsective bidders as outlined above. For and in consideration of our services and as reimbursement for expenses which we will have paid on behalf of the Authority, the Authority agrees to pay us a cash fee on all new issues or refundings, this fee to be in the following amounts: (a) 3$ on the first $ 50,000 of Bonds; 2~ on the next $ 200,000 of Bonds; 1 1/2$ on the next $1, 000 , 000 of Bonds; 3/4 of 1~ on the next $1,500,000 of Bonds; 1/2 of 1$ on all bonds over $2,750,000. (b) In addition thereto, the Authority agrees to pay us a cash retainer of five hundred dollars ($500.00) per year, this retainer to be paid out of current funds and to become due and payable on September 1 of each year.